Intel (NASDAQ:INTC) Trading Down 0.5% - Here's Why

Intel Co. (NASDAQ:INTC - Get Free Report)'s stock price dropped 0.5% on Wednesday . The stock traded as low as $23.77 and last traded at $24.08. Approximately 11,201,056 shares changed hands during trading, a decline of 81% from the average daily volume of 59,842,234 shares. The stock had previously closed at $24.20.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on INTC. Benchmark reissued a "hold" rating on shares of Intel in a report on Friday, November 1st. Morgan Stanley dropped their price target on shares of Intel from $36.00 to $25.00 and set an "equal weight" rating on the stock in a research note on Friday, August 2nd. Roth Mkm reduced their price objective on shares of Intel from $35.00 to $25.00 and set a "neutral" rating for the company in a research report on Friday, August 2nd. HSBC lowered shares of Intel from a "hold" rating to a "reduce" rating in a research report on Friday, August 2nd. Finally, Northland Securities reduced their price target on shares of Intel from $42.00 to $28.00 and set an "outperform" rating for the company in a research report on Friday, November 1st. Six investment analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Intel presently has a consensus rating of "Hold" and a consensus target price of $30.12.

Intel Stock Performance

The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $101.70 billion, a price-to-earnings ratio of -6.47 and a beta of 1.03. The firm's fifty day moving average price is $22.91 and its 200 day moving average price is $26.21.

Intel (NASDAQ:INTC - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.44). The firm had revenue of $13.30 billion for the quarter, compared to analysts' expectations of $13.02 billion. Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The company's quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.28 earnings per share. Analysts forecast that Intel Co. will post -0.83 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the company's stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $26.00, for a total transaction of $650,000.00. Following the sale, the executive vice president now owns 273,258 shares of the company's stock, valued at approximately $7,104,708. This represents a 8.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.04% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. America First Investment Advisors LLC purchased a new position in Intel in the second quarter worth approximately $25,000. Cyrus J. Lawrence LLC acquired a new position in shares of Intel during the second quarter worth $27,000. Quest Partners LLC increased its holdings in Intel by 7,370.6% in the third quarter. Quest Partners LLC now owns 1,270 shares of the chip maker's stock valued at $30,000 after buying an additional 1,253 shares during the last quarter. Spartan Fund Management Inc. acquired a new stake in Intel in the second quarter valued at $31,000. Finally, Financial Connections Group Inc. purchased a new stake in Intel during the 2nd quarter worth about $32,000. 64.53% of the stock is owned by institutional investors and hedge funds.

Intel Company Profile

Intel Corporation designs, develops, manufactures, markets, and sells computing and related products and services worldwide. It operates through Client Computing Group, Data Center and AI, Network and Edge, Mobileye, and Intel Foundry Services segments. The company's products portfolio comprises central processing units and chipsets, system-on-chips (SoCs), and multichip packages; mobile and desktop processors; hardware products comprising graphics processing units (GPUs), domain-specific accelerators, and field programmable gate arrays (FPGAs); and memory and storage, connectivity and networking, and other semiconductor products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.